Warner Music Group files for an IPO as streaming services boost labels

Warner Music Group filed for an IPO with the Securities and Exchange Commission on Thursday as streaming services continue to boost the music industry.
The offering is Warner's second, as a slew of private-equity firms took the company public in 2005 after buying it from Time Warner the previous year.
The S-1 filing follows Vivendi selling a 10% stake in Universal to Tencent in late December for €3 billion ($3.4 billion). The sale established Universal as the world's largest music company.